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FINWIRES

Keyera to Advance ACE Rail Terminal Project in Partnership With CN Rail, AltaGas

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Keyera (KEY.TO) will invest an initial $240 million, including an additional $100 million on top of its 2026 growth capital guidance, to build the Alberta Corridor Export (ACE) rail terminal project, the company said on Wednesday.

The rail hub is expected to be able to transport about 45,000 barrels per day of propane and butane from the Fort Saskatchewan region to West Coast export facilities. It is forecast to have an in-service date of mid-2028, to align with Keyera's KFS Fractionation III project being completed.

ACE rail terminal will be designed to boost loading efficiency, reduce handling requirements and lower transportation costs compared with traditional rail solutions, a statement said. It will be developed in partnership with CN (CNR.TO) and AltaGas (ALA.TO), combining CN's rail network and AltaGas' West Coast export platform, and will be anchored by long-term commercial arrangements with both companies.

"This project reflects our continued focus on strengthening and extending Keyera's integrated value chain while providing customers with an efficient solution to diversify market access and benefit from growing global LPG demand," said Dean Setoguchi, Keyera chief executive officer.

Keyera shares closed up $1.27 to $58.71 on Tuesday on the Toronto Stock Exchange.

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